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The textured vegetable protein global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Textured Vegetable Protein Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The textured vegetable protein market size has grown strongly in recent years. It will grow from $1.78 billion in 2023 to $1.91 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to globalization of dietary trends, retail and foodservice adoption, shift in consumer preferences, food security, cost-effectiveness.
The textured vegetable protein market size is expected to see exponential growth in the next few years. It will grow to $10.65 billion in 2028 at a compound annual growth rate (CAGR) of 53.8%. The growth in the forecast period can be attributed to diverse product offerings, nutritional value emphasis, allergen-free and gluten-free attributes, culinary adaptability, expanded market presence. Major trends in the forecast period include product innovations, health and wellness trends, sustainability concerns, technological advancements in food processing, clean label movement.
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Scope Of Textured Vegetable Protein Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Textured Vegetable Protein Market Overview
Market Drivers –
The growing demand for plant-based ingredients is expected to propel the growth of the textured vegetable protein market going forward. Plant-based ingredients are extracted from plant roots and other parts, including fruits, vegetables, rice, wheat, maize, pulses, and other food crops. The demand for plant-based ingredients is rising due to health consciousness among people and increased concern for animal welfare. Textured vegetable proteins are derived from plants as an alternative to meat products. For instance, in 2021, according to the Plant Based Foods Association, a US-based non-profit organization, the market value of plant-based foods in the U.S. reached a new peak at $7.4 billion, experiencing 6.2% growth compared to 2020. Therefore, the growing demand for plant-based ingredients is driving the growth of the textured vegetable protein market.
Market Trends –
Product innovation is a key trend in the textured vegetable protein market. Major companies operating in the plant-based ingredients market focus on developing innovative products to provide alternatives to textured vegetable protein. For instance, in February 2022, KMC, a Denmark-based ingredients company, launched the first textured potato protein powder to be utilized as an alternative to meat. The powder form is transformed into a textured ingredient with a meat-like structure, high nutritional value, and a frying crust.
The textured vegetable protein market covered in this report is segmented –
1) By Product Type: Textured Soy Protein, Textured Wheat Protein, Textured Pea Protein, Other Product Types
2) By Nature: Organic, Conventional
3) By Application: Food Products, Animal Nutrition/Pet Food
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Regional Insights –
North America was the largest region in the textured vegetable protein market in 2023. The regions covered in the textured vegetable protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the textured vegetable protein market report are Archer Daniels Midland Company, Cargill Incorporated, DuPont de Nemours Inc., Roquette Freres SA, Shandong Yuxin Biotechnology Co. Ltd, Axiom Foods Inc., Kansas Protein Foods LLC, Foodchem International Corporation, Dacsa Group, Victoria Group A.D., Crown Soya Protein Group, Wilmar International Ltd, Fuji Oil Co. Ltd, Vestkron A/S, Ingredion Inc, Tereos Syral, Agridient B.V., Beneo GmbH, CerealVeneta S.r.l., CHS Inc., Cosucra Groupe Warcoing SA, Devansoy Inc., Emsland Group, Gushen Biological Technology Group Co. Ltd., Harvest Innovations LLC, World Food Processing, Kerry Group plc, MGP Ingredients Inc., Nutri Pea Ltd., Puris Proteins LLC
1. Executive Summary
2. Textured Vegetable Protein Market Report Structure
3. Textured Vegetable Protein Market Trends And Strategies
4. Textured Vegetable Protein Market – Macro Economic Scenario
5. Textured Vegetable Protein Market Size And Growth
…..
27. Textured Vegetable Protein Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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